Who is Ace Motor Acceptance Corporation?
Ace Motor Acceptance Corporation (AMAC) is a financing company that specifically caters to Buy Here, Pay Here (BHPH) car dealerships. BHPH dealerships typically sell and finance vehicles on-site, often catering to customers with poor or no credit history.
AMAC, headquartered in Matthews, North Carolina, provides the necessary financial services and solutions to these dealerships. If AMAC appears on your credit report as a collections account, it likely means you have an unpaid debt related to an auto loan.
How can I remove Ace Motor Acceptance from my credit report?
Collections can hurt your credit score and remain on your credit report for up to seven years regardless of whether you pay it or not. Unfortunately, paying the collection could even lower your credit score.
However, it is possible to remove a collection account from your credit history before seven years.
(While debt collectors may not want this information to be widely known, it’s your right to be informed.)
Ready to Raise Your Credit Score?
Some clients have raised their credit scores
by 100 points* or more.
Lexington Law is a professional credit repair law firm that works with people who want to fix their credit.
In addition to collections, they can work with you to challenge other inaccurate, unfair, or unsubstantiated information on your credit report. These items include inquiries, late payments, charge-offs, foreclosures, repossessions, bankruptcies, and more.
Get started on the path to better credit today: Fill out the form for a free credit consultation.
Ace Motor Acceptance Corporation Contact Information
Address:
Ace Motor Acceptance
111 Cupped Oak Dr Ste F
Matthews, NC 28104-8823
Phone number: (800) 297-5618
Should I contact or pay Ace Motor Acceptance?
It’s best to avoid speaking to a collection agency on the phone. And making payments on the debt will reset the clock. As a result, it could harm your credit rather than improve it. However, sometimes it’s better just to pay the collection account, especially if it’s new, and you’re certain that it’s legit.
The most effective way to deal with Ace Motor Acceptance is to work with a credit repair professional. They help remove millions of negative items every year from companies like Ace Motor Acceptance Corporation on behalf of their clients.
Will Ace Motor Acceptance Corp sue me or garnish my wages?
While Ace Motor Acceptance Corp (AMAC) is primarily a financing company, they do have the right to attempt to collect any outstanding debts.
If an individual fails to make payments on their auto loan, AMAC can potentially resort to legal action to recover the debt. This could involve suing for the unpaid amount. If AMAC were to win a lawsuit, they may be able to garnish your wages or take other collection actions, depending on the laws in your state.
Ace Motor Acceptance Corporation Complaints
Most collection agencies have numerous complaints filed against them with the Consumer Financial Protection Bureau (CFPB) and the Better Business Bureau (BBB). Most consumer complaints are about inaccurate reporting, harassment, or failure to verify a debt. If a debt collector is harassing you, you may want to consider filing a complaint.
You have many consumer rights under the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA). These rights include the ability to dispute credit reporting errors and to be treated fairly and respectfully by debt collectors.
Your Rights When Dealing with Ace Motor Acceptance Corporation
Debt collectors must abide by state and federal laws in the United States. For example, the Fair Debt Collection Practices Act prohibits a debt collector from using abusive, unfair, or deceptive practices. In addition, the FDCPA provides you with many rights to ensure that collection agencies don’t take advantage of you. In particular:
- It is a violation of federal law for Ace Motor Acceptance Corporation to report inaccurate or incomplete information about you.
- You have a legal right to request debt validation on an alleged debt. Send the collection agency a debt validation letter. By law, they have 30 days to prove to you that the debt is really yours and the total amount is accurate.
- Ace Motor Acceptance Corporation may not threaten or harass you, call you repeatedly, swear at you, or publicly publish a list of debtors.
- Ace Motor Acceptance Corporation must be honest about who they are and what they are attempting to do. They must notify you that they are a debt collection agency both orally and in writing.
- Ace Motor Acceptance Corporation cannot threaten to have you arrested or imprisoned over unpaid debts.
Remove Ace Motor Acceptance Corporation From Your Credit Report Today!
Lexington Law can assist you in disputing AMAC collections. With more than 18 years of experience, they achieved over 6 million removals for their clients in 2021 alone.
If you’re tired of dealing with debt collectors and want to improve your credit, consider working with a trusted credit repair company.
They have helped many people in your situation. Fill out the form on their website for a free credit consultation to see what they can do for you.
Ready to Repair Your Credit?
Some clients have raised their credit scores
by 100 points* or more.
